Family. Debt. Life Insurance?

September is National Life Insurance Awareness Month. And one of the best times to consider or re-evaluate life insurance is during a home purchase. 

Buying a home is a HUGE process. Between digging up tax statements, pricing homeowners insurance, inspections, packing, cleaning, and all the potential surprises, it can be overwhelming, to say the least. In the chaos, most people don't stop to consider what would happen to their new home and their family should something happen to them. Could they afford this home without you? Could they maintain the same lifestyle? 

First-Time Home Buyers:

If this is your first home, this may also be the first large debt that would be passed to family members upon your death. If you don’t already have a term policy in place, this is a great time to explore this option.

Repeat Home Buyers or Buyers With Life Coverage:

If you already have a policy in place, the home buying process is an excellent time to reassess your debt, your current death benefits, and the length of your term. It’s a common practice to stack life policies, so these adjust appropriately to your needs. Depending on your age and financial goals, this may also be a good time to consider a permanent product such as Universal Life.

If your family will no longer be able to afford the home you’re purchasing, or the lifestyle they're living without your income, you should discuss life insurance with your local insurance agent.

Visit www.lifehappens.org, or reach out to us at 785-370-0722 for more information and insight.